TThe day has come. today, April 18 2022is the deadline for tax year 2021.
The tax authority Realize that not all taxpayers will meet the deadline for various reasons. However, for everyone who needs it, the IRS allows Tax extension for six months.
What is a tax extension?
Tax extension is a formal process By requesting a specific form from the IRS.
It is important to note that a Tax extension It gives you more time to file your tax return. However, extensin does not give you more time Pay any balance owed to you.
your nature Pay taxes 2021 It is still due by the April 18 deadline.
How do you request a tax extension?
You can obtain a tax extension either electronically or by mail.
You need to order it before April 18 To avoid economic delay fine from the IRS.
If your software supports files shape 4868 For tax extensions, you can follow the instructions and learn how to save them online.
When the process is done correctly, the file tax authority We will send to you E-mail To notify you to submit the form.
If mail is the option you want, you can fill in that shape 4868 on paper. Sending it by regular mail is always a good option. However, get proof that you are submitting the form.
there non-profit organizations Partnership with the IRS that can help you with this process.
For example, the letter F.ree . file alliance Helps people who earn less than $73,000 in adjusted gross income access free prep programs.
The Free File Alliance can help you
To offer an extension online, even if you earn money above the income threshold.
When does the deadline for extension expire?
The deadline for extension is 1 day October 17, 2022.
However, Tina Orem says that “an extension doesn’t give you more time to pay — it just gives you more time to file a return.”
“If you cannot file your return by the April 18 deadline, you need to estimate your tax bill and pay as much of it as possible at that time.”
You will need to interest payment If there is an outstanding amount by the end of the deadline.